$NBIS

Nebius Group preps $3.75B capital raise following Meta & Nvidia deals, shares down
Europe's largest AI infrastructure firm, Nebius Group (NBIS) on Tuesday announced plans to offer $3.75 billion in convertible senior notes, split into two tranches: $2 billion due in 2031 and $1.75 billion due in 2033, sending shares more than 6% lower in premarket trading.
Nebius (NBIS) also expects to grant the initial purchaser a 13-day over-allotment option to buy up to an additional $300 million of the 2031 notes and $262.5 million of the 2033 notes, it said in a statement.
The company intends to use the net proceeds from the offering to finance the continuing growth of its business, including expenditures related to the construction and build-out of its data centers, investments to develop its full-stack AI cloud, the expansion of its data center footprint, and the procurement of key components (including GPUs).
The company's shares closed 15% higher on Monday after Meta Platforms (META) committed to spend up to $27B over the next five years to access advanced AI infrastructure from Nebius (NBIS).
Under the five-year AI infrastructure supply agreement, Nebius will provide $12B of dedicated capacity across multiple locations, based on one of the first large-scale deployments of Nvidia's (NVDA) Vera Rubin platform. Nebius will deliver this capacity starting early 2027.
Last week it was announced that Nvidia (NVDA) would invest $2B in Nebius (NBIS). The Dutch AI infrastructure provider said the partnership will help it deploy more than 5 gigawatts of Nvidia systems by the end of 2030.